Fact sheet: LV= L&G UK Property Pn

Fund information
Fund name
LV= L&G UK Property Pn S2
Fund manager company
LVFS Ltd
Fund type
Pension Fund
Fund managers
  • Matt Jarvissince 01/01/2010
  • Michael Barriesince 01/02/2006
Underlying fund
L&G UK Property
Fund objective
The fund will be a Property Authorised Investment Fund for taxpurposes at all times. Its objective is to provide a combination ofincome and growth through investing generally in commercialproperty.The fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where thefund manager deems it to be in the interests of the fund and itsshareholders).The fund may invest in all types of commercial property. It mayoccasionally invest in residential property and may also developproperties. The fund may also invest from time to time incommercial properties in the Isle of Man and the Channel Islands.The fund may use derivatives (contracts which have a value linkedto the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The fund may also invest in other property-related assets(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments,deposits, money market-related authorised investment funds andgovernment bonds. Money market instruments are a type ofsecurity where cash can be deposited for short periods of time.If you hold accumulation shares, income from investments heldby the fund (a mixture of rental income, interest and dividends)will be reinvested into the value of your shares.If you hold distribution shares, income from investments held bythe fund will be paid out to you (as a mixture of rental income,interest and dividends).You can buy or sell shares in this fund on any working day. Youneed to contact us with your instruction before 12 noon. This isthe time we calculate share prices for this fund. If you contact usafter 12 noon, the shares will be bought or sold at the next workingday's price.In addition to the charges set out in the charges section overleaf,the fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of thefund.This fund may not be appropriate for investors who plan towithdraw their money within five years. The fund may beappropriate if you would like to add a more specialist investmentto an existing portfolio.
Benchmark
  • IA - Property
Investment style
None
Investment method
Physical
Quick stats
1 Year return
-
1 Year rank in sector
67/159
Sector
PN UK Direct Property
Yield
-
Fund size
£20m (£18m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
94
Bid price
126.8
Offer price
133.4
Top in this sector
Fund name1 Year
Guardian Property Pn15.2%
Guardian Choices Property Pn15.2%
Zurich L&G Property Pn8.1%
OMW IPL Aviva Lm Prp Pn7.4%
FL Property AP5.9%
...more in PN UK Direct Property

Performance snapshot

Holdings snapshot

  • Money Market27%
    Midlands16.7%
    Central London11.1%
    South East UK10.2%
    Yorkshire & Humberside6.2%
  • Cash & Cash Equivalents27%
    Offices - Property26.5%
    Industrials19%
    Warehouse - Property9.3%
    Others5.2%
  • Physical Property68%
    Cash & Cash Equivalents26.9%
    Property Shares5%
    Money Market0.2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1%0.3%-2.8%-25.5%-
Sector0.7%2.5%-2.4%-1.4%24.6%33.2%
Rank within sector24 / 161140 / 160100 / 15967 / 15975 / 154-
Quartile1st4th3rd2nd2nd
Calendar performance
 YTD - 20162015201420132012
Fund-0.8%10.6%13.2%--
Sector-1.7%9.7%14.3%6.9%1%
Rank within sector69 / 15966 / 15892 / 154--
Quartile2nd2nd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
1.79
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.78
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.21
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
3.66
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
2.62
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.04
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.54
Price movement
52 week high131.2
52 week low107.8
Current bid price126.8
Current offer price133.4
Current mid price-
Region
1Money Market27.04%
2Midlands16.71%
3Central London11.06%
4South East UK10.17%
5Yorkshire & Humberside6.15%
6Scotland5.55%
7Not Specified5%
8North West UK4.47%
9Northern UK3.53%
Industry sector
1Cash & Cash Equivalents27.04%
2Offices - Property26.53%
3Industrials19.01%
4Warehouse - Property9.3%
5Others5.23%
6Retail - Property5.01%
7Indirect Property5%
8Leisure2.88%
Asset type
1Physical Property67.96%
2Cash & Cash Equivalents26.86%
3Property Shares5%
4Money Market0.18%
Individual holdings
No data available.
Management
Fund manager group
LVFS
Fund manager company
LVFS Ltd
Fund type
Pension Fund
Fund objective
The fund will be a Property Authorised Investment Fund for taxpurposes at all times. Its objective is to provide a combination ofincome and growth through investing generally in commercialproperty.The fund will typically invest at least 80% in a range of UKcommercial properties (but this can be as low as 60% where thefund manager deems it to be in the interests of the fund and itsshareholders).The fund may invest in all types of commercial property. It mayoccasionally invest in residential property and may also developproperties. The fund may also invest from time to time incommercial properties in the Isle of Man and the Channel Islands.The fund may use derivatives (contracts which have a value linkedto the price of another asset) for the following purposes:• To help with efficient day to day management.• To reduce some of the risks of the market.The fund may also invest in other property-related assets(including property-related UK shares and UK property-relatedauthorised investment funds), money market instruments,deposits, money market-related authorised investment funds andgovernment bonds. Money market instruments are a type ofsecurity where cash can be deposited for short periods of time.If you hold accumulation shares, income from investments heldby the fund (a mixture of rental income, interest and dividends)will be reinvested into the value of your shares.If you hold distribution shares, income from investments held bythe fund will be paid out to you (as a mixture of rental income,interest and dividends).You can buy or sell shares in this fund on any working day. Youneed to contact us with your instruction before 12 noon. This isthe time we calculate share prices for this fund. If you contact usafter 12 noon, the shares will be bought or sold at the next workingday's price.In addition to the charges set out in the charges section overleaf,the fund will incur transaction costs relating to the buying andselling of property. These costs are paid from the assets of thefund.This fund may not be appropriate for investors who plan towithdraw their money within five years. The fund may beappropriate if you would like to add a more specialist investmentto an existing portfolio.
Benchmark
  • IA - Property
Investment style
None
Investment method
Physical
Fund managers
NameSinceBiography
Matt Jarvis01/01/2010Matt Jarvis joined Legal & General Property as an asset manager in November 2004 and is Co-Fund Manager of the UK Property Trust, having previously been a Commercial Valuer with Jones Lang LaSalle. Matt holds a degree in Land Management from Reading University and is a Member of the Royal Institution of Chartered Surveyors (MRICS).
Michael Barrie01/02/2006Michael Barrie is a Director of LGP with specific responsibility for the Balanced Property Funds Portfolio (c.£3.4bn as at March 2010), including the L&G LPI Income Property Fund and the L&G Managed Property Fund. Michael joined LGP in 2005 having previously been a director of F&C Property Asset Management and lead fund manager for the RSA Life Unitised Fund & RSA Pension Unitised Fund. Over the last three calendar years of Michael’s management of these funds they outperformed the IPD benchmark by 2.0% and 1.1% per annum respectively. The Life Unitised Fund received the IPF/IPD/EG award for best 3-year rolling performance (Funds between £50m and £200m) in 2002. He also established and managed the ISIS Property Trust and the ISIS Property Trust 2 which were listed on the London Stock Exchange. Michael holds a degree in Land Economics, a post graduate diploma in Property Investment and is a Member of the Royal Institution of Chartered Surveyors (MRICS) and the Association of British Insurers Property Group.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
United Kingdom
LV= L&G UK Property Pn S2
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.64%
Bid price126.8
Offer price133.4
Mid price-
CurrencyGBX
Price updated06/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeI3UI
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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.